MrsSingh Owes Mr

question 114

Multiple Choice

Mrs.Singh owes Mr.Valdy $55 513.78 in 14-months.Mr.Valdy agrees to let her repay the loan with a payment of $35 000 in 6-months,$10 000 in 10-months and $X in 14-months.If money is worth j₄ = 6%,what is the value of X,using 14-months as the focal date along with the exact method of crediting/charging interest?

• A)$8894.58
• B)$8895.72
• C)$8896.37
• D)$8897.69

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Definitions:

Flooding

A psychological treatment method that exposes the patient to their fear or trauma in a safe and controlled environment to help overcome anxiety.

Rational-emotive

A cognitive-behavioral approach that identifies irrational beliefs, challenges them, and encourages the development of more rational thought patterns to facilitate emotional well-being.

Obsessive-compulsive Disorder

A chronic disorder where a person has uncontrollable, reoccurring thoughts (obsessions) and behaviors (compulsions) that he or she feels the urge to repeat over and over.

Cognitive-behavioral Theorists

Scholars who study and develop therapies based on the idea that cognitive processes influence behavior and emotions, and that altering these processes can lead to change.